South Sudan needs more investment before it can take over oil fields from private operators and should renew contracts with companies that expire in 2027, according to a national planning body.
State-owned Nile Petroleum Corp. “It’s still a small entity” and requires funding to reach the capacity of companies like China National Petroleum Corp. and Petroliam Nasional Bhd., which had planned to take over the licenses as it expanded operations, South Sudan’s National Economic Conference said in a summary of recommendations. Officials met for six days until September 9 in the capital Juba.
The NEC also listed the renegotiation of exploration and production sharing agreements by 2027, as well as recommending the construction of an alternative pipeline. South Sudan has held talks with Kenya and Ethiopia to transport oil to the coast for export, which would reduce its reliance on pipelines that run through war-torn Sudan.
